HPL Properties (West Asia) Pte Ltd agreed to acquire Weligama Hotel Properties (Pvt) Ltd from East West Properties PLC (COSE:EAST-N-0000), Asia 2000 Investments Inc and The Monetary Board of The Central Bank of Sri Lanka on March 11, 2019. HPL Properties (West Asia) Pte Ltd entered into share purchase agreement to acquire Weligama Hotel Properties (Pvt) Ltd from East West Properties PLC (COSE:EAST-N-0000), Asia 2000 Investments Inc and The Monetary Board of The Central Bank of Sri Lanka for $22.6 million on April 11, 2019. Under the terms, HPL Properties (West Asia) will acquire 405.2 million shares of Weligama Hotel Properties. The consideration is subject to net working capital adjustments. The transaction will be funded through the Hotel Properties Limited (SGX:H15) internal resources and/or bank financing. The transaction has been approved by the shareholders of East West Properties PLC at the extraordinary general meeting held on March 11, 2019. The transaction is not expected to have any significant effect on the consolidated net tangible assets per share and net earnings per share of Hotel Properties Limited Group based for the year ended December 31, 2018. HPL Properties (West Asia) Pte Ltd completed the acquisition of Weligama Hotel Properties (Pvt) Ltd from East West Properties PLC (COSE:EAST-N-0000), Asia 2000 Investments Inc and The Monetary Board of The Central Bank of Sri Lanka on April 15, 2019.